Citgo Petroleum Resumes Venezuelan Oil Imports Ending Six Year Processing Gap

Citgo Petroleum has purchased about 500,000 barrels of Venezuelan heavy crude for February delivery. This transaction ends a processing gap that has existed since 2019.

洞察:
Citgo Petroleum bought a cargo of about 500,000 barrels of Venezuelan heavy crude for February delivery from Trafigura. This purchase marks the first time Citgo has bought Venezuelan crude since access was cut in 2019, effectively ending a processing gap in the US USUS. The deal reflects a wider and recent normalization of oil flows from Venezuela VEVEto various international markets.
FILE PHOTO: The logo of PDVSA's U.S. unit Citgo Petroleum is seen at a gas station in Stowell, Texas, U.S., June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The logo of PDVSA's U.S. unit Citgo Petroleum is seen at a gas station in Stowell, Texas, U.S., June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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